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Wages, Regime Switching, and Cycles (Paperback, 2nd ed. 1992. Softcover reprint of the original 2nd ed. 1992)
Loot Price: R2,765
Discovery Miles 27 650
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Wages, Regime Switching, and Cycles (Paperback, 2nd ed. 1992. Softcover reprint of the original 2nd ed. 1992)
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The initial purposes of this book were to update and extend the
discussion and the results presented ill our previous book, The
Labor Market and Business Cycle Theories. Our 1990 article, which
appeared in The Journal of Economic Behavior and Organization,
represented a first step in this direction. The consequences of
this effort have materialized in a number of new chapters that has
led de facto to a new book, in which the surviving parts have been
largely revised. The 1989 book was too mathematically oriented for
many Keynesians and post Keynesians to be fully appreciated and
insufficiently microfounded for both new classicals and
new-Keynesians to be warmly accepted, yet we received positive and
encouraging comments, and it was sold out very quickly. It was an
attempt to dis cuss dynamics in Keynesian terms, based on a double
assumption that maintains its validity-that both economic facts and
analytical and methodological innova tions had contributed to a
renewed interest in business cycles, which over time has had its
"ups and downs." Since then, many more articles and books have
appeared, stressing in particular the role of microfoundations and
of nonlinearities in shaping business cycle theory.
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